Just say "No" to more spendingThe President says he's going to ask Congress for an economic booster shot to the tune of 1% of GDP -- or about $130 billion, based on our 2006 GDP of $13 trillion. Among the requests: Tax relief and more Federal backing for mortgage refinancing. Where, though, is the money for this package supposed to come from? Where in the world is the magical pot of money from which we're supposed to pull $130 billion? That's a colossal sum of money: More than the entire GDP of New Zealand or the entire gross state product of Iowa. Unfortunately, even more than just being a needless Keynesian effort to tweak the economy, such a package punishes the those who have been paying higher rates of mortgage interest on 15-year and 30-year fixed loans in order to bail out those who borrowed more than they could repay on lower-interest adjustable-rate mortgages that are now moving to higher interest rates. You cannot punish people for responsible fiscal behavior forever without sending the wrong message. Fix the real problems: Accounting abuses, stock-option scandals, and under-capitalized lending institutions. Then stop behaving as though every rough patch in the business cycle calls for a huge (and ultimately punitive) "economic stimulus package." Lower taxes will be great to enjoy sometime in the future, but first we have to stop spending so much. Sadly, the Federal Reserve chair seems to be on the spending bandwagon, too.